In July, Microsoft announced it had started the Bing Fund, an angel investment effort that would offer start up companies cash as well as access to software and hardware from Bing and other parts of Microsoft. It had previously announced that Buddy Platform and Pinion Tech would be the first two companies it would support with this new program.

Today, Microsoft announced the third start up company that will receive financial support from the Bing Fund. It's a New York City organization called Selectable Media. In a post on the Bing Fund blog, Bing Fund general manager Rahul Sood states:

Selectable Media enables consumers to unlock digital content and services in exchange for viewing and interacting with brand advertising. They already have a number of big brand clients under their belt who Selectable Media is helping reach higher brand recall and scaled engagement when compared to traditional ads. Through innovation, they are raising the bar on what consumers can expect from ads, and what advertisers can offer.

Specific details about how much money Microsoft is investing into Selectable Media have not been announced. The Bing Fund is still taking applications for new companies to be considered for their program at its official website.